House prices up by more than 2%

London prices highest risers while Northern Ireland experiences biggest drop

UK house prices increased by 2.2 per cent between January 2012 and January 2013, according to the Office for National Statistics

The figure is down from the 3.3 per cent increase between December 2012 and December 2013.

Overall, the report suggests that house price growth continues to be relatively stable across most of the UK with growth of 2.4 per cent in England and 0.9 per cent in Wales, although there were declines of 0.2 per cent in Scotland and 5.4 per cent in Northern Ireland.

The increases in England were partly driven by a 5.5 per cent rise in London - excluding London and the South East, UK house prices increased by 1.2 per cent.

In January 2013, prices paid by first-time buyers were 2 per cent higher on average than in January 2012.

Jonathan Harris, director of mortgage broker Anderson Harris, said: "House prices continue to climb as far as the national average is concerned, but this masks significant regional differences. The numbers should therefore be considered with a large pinch of salt, useful as a very general indicator of where things are going but not the holy grail.

'Worryingly, first-time buyers are having to pay more for their first home. While homeowners will welcome higher house prices, those struggling to get on the housing ladder for the first time are unlikely to feel the same. First-time buyers still need a 20 per cent deposit on average but with more mortgages available to those with 10 per cent deposits, it is getting easier to get funding. However, if house prices continue to edge up, this is not going to help the situation.

"It is essential that the Chancellor uses tomorrow's Budget to assist first-time buyers further as this would help boost the housing market as a whole."

Discover more property articles at Homes and Property
PROMOTED VIDEO
Arts and Entertainment
Top guns: Cole advised the makers of Second World War film Fury, starring Brad Pitt
filmLt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a uniform
Life and Style
Listen here: Apple EarPods offer an alternative
techAre custom, 3D printed earbuds the solution?
News
Snoop Dogg pictured at The Hollywood Reporter Nominees' Night in February, 2013
people... says Snoop Dogg
News
The University of California study monitored the reaction of 36 dogs
sciencePets' range of emotions revealed
Arts and Entertainment
A scene from Shakespeare in Love at the Noel Coward Theatre
theatreReview: Shakespeare in Love has moments of sheer stage poetry mixed with effervescent fun
Property search
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Head of Sales, Bristol

£70 - 90K OTE £125K. Plus Car,Private Healthcare and Pension: Charter Selectio...

Head of Sales, Birmingham

£70 - 90K OTE £125K. Plus Car,Private Healthcare and Pension: Charter Selectio...

Head of Sales, Manchester

£70 - 90K OTE £125K. Plus Car,Private Healthcare and Pension: Charter Selectio...

Are you a Newly Qualified Teacher (NQT)

£100 - £115 per day: Randstad Education Cardiff: Randstad Education are active...

Day In a Page

Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform
Climate change threatens to make the antarctic fur seal extinct

Take a good look while you can

How climate change could wipe out this seal
Should emergency hospital weddings be made easier for the terminally ill?

Farewell, my lovely

Should emergency hospital weddings be made easier?
Man Booker Prize 2014 longlist: Crowdfunded novel nominated for first time

Crowdfunded novel nominated for Booker Prize

Paul Kingsnorth's 'The Wake' is in contention for the prestigious award
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned

Vladimir Putin employs a full-time food taster

John Walsh salutes those brave souls who have, throughout history, put their knives on the line
Tour de France effect brings Hollywood blockbusters to Yorkshire

Tour de France effect brings Hollywood blockbusters to Yorkshire

A $25m thriller starring Sam Worthington to be made in God's Own Country
Will The Minerva Project - the first 'elite' American university to be launched in a century - change the face of higher learning?

Will The Minerva Project change the face of higher learning?

The university has no lecture halls, no debating societies, no sports teams and no fraternities. Instead, the 33 students who have made the cut at Minerva, will travel the world and change the face of higher learning
The 10 best pedicure products

Feet treat: 10 best pedicure products

Bags packed and all prepped for holidays, but feet in a state? Get them flip-flop-ready with our pick of the items for a DIY treatment
Commonwealth Games 2014: Great Scots! Planes and pipers welcome in Glasgow's Games

Commonwealth Games 2014

Great Scots! Planes and pipers welcome in Glasgow's Games
Jack Pitt-Brooke: Manchester City and Patrick Vieira make the right stand on racism

Jack Pitt-Brooke

Manchester City and Patrick Vieira make the right stand on racism
How Terry Newton tragedy made iron men seek help to tackle their psychological demons

How Newton tragedy made iron men seek help to tackle their psychological demons

Over a hundred rugby league players have contacted clinic to deal with mental challenges of game